Governance, liquidity, and capital allocation are the main functions that the EcoX token is designed to fulfill. The crypto token has a capped total supply of 1,000,000,000 ECOX coins. It plays a significant role in aligning the incentives. and bootstrapping an open market, signaling expectations the ecosystem can adopt. The token is used in a real economy, with a real community and actual governance.
A Bit About ECOx
The token under the ECO Currency System is used to promote sound governance and responsible growth. With its capped total supply, it is designed to decrease as time passes by. The token has a different allocation and the circulating supply changes with different rates. Therefore, as the governance token, it will dictate the differences in token supply and distribution of new supply. The EcoX supply allocation is distributed among five stakeholder categories. These include community contributors, the Eco team, advisors, investors who have rights to the token via fundraising rounds, and ecosystem partners. The distribution of the 1 billion token units is allocated in the following ways. The community gets 19.7% of the tokens, which amounts to 197,000,000 units. The team gets 228 296 449 units which account for 22.83%, advisors get 86,863,914 units, that amount to 8.69%, and investors get 29.27% which is 292,759,401 units. The ecosystem partners get 19.51% which amounts to 195,080,236 units. The voting powers give the holders full token participation in these decisions. The Eco community delegates and assigns voting power through governance and designs voting power of the protocol treasury vault. The token exhibits different behaviors, such as it can be upgraded and paused. Also, it can be reverted on transfer or failed transfer, and it can update the allowance function, influencing whether it can increase or decrease allowance.
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The crypto token is an ERC20 token serving as a secondary token to the currency ecosystem. The deflationary token is essential in widening the reach of an open market that signals expectations for the ecosystem's adoption. The token's total supply is 1,000,000,000, and its supply decreases over time due to the deflationary nature of the coininsulates consumers from volatility by allowing different parts of price discovery to be undertaken. The crypto token has other allocations and circulating supply which can change at different rates. The early market participants that indulge in purchases of the token in its early development contribute to the open market signals that the system will use.
Utility of ECOx?
The crypto token is a governance token that holds the token holder's voting. The owners of the tokens can use them to make decisions for future developments of projects and control the entire protocol. The token facilitates the eco-decentralized currency system upgradeable to evolve to better offerings over time.
Investors and token holders use the token to vote and change any process in the system, whether fiscal, economic, or technical developments. ECOx requires 15% of the community members to support a proposal before sending it in for a vote. The majority of the votes eventually decide on the proposal. Trustees are elected to conduct monetary governance on a periodic schedule and maximize the wealth held in the ecosystem as the token's success contributes to their success.
The community reserves the power to remove or re-elect Trustees via voting at any time.
ECOx Price detailsETH Contract address: 0xcccD1Ba9f7acD6117834E0D28F25645dECb1736a
›› Details & Tokenomics
›› ECOX tokenomics and social media
Advantages of ECOx+ ECOx contributes to future developments of the protocol.
+ Investors can advise holders on the right choices for projects.
+ Enables holders to vote for the Trustees of the ecosystem.
+ ECOX has already received a listing in reputable exchanges.
+ It's staked to earn a portion of the fees in the ecosystem.
Disadvantages- Whale token holders can make uninformed choices on future projects.
- It's listed in a limited number of exchanges.
- Community control over Trustees can influence bias.
- There is no information regarding the team behind the token.
- The ECOx token is relatively new and exposed to volatility.
Costs▪ Rated at 8/10
There is a specific constant portion of the fee that the Trustee vote cannot alter, which accrues to a holding contract that liquidates pro rata at the end of the generation accrue; to the token staked to the holding contract. Trustees can impose a Supplemental Transaction Fee on top of the flat fee accrued to the staked tokens. The fee influences monetary velocity, and it varies. The fees are placed in a treasury contract which funds future governance actions and interest from the decisions made. Other costs relating to the token depend on the exchange users opt for when transacting with the token.
Reputation and Buzz▪ Reputation rated at 7/10
▪ Buzz rated at 7/10
The EcoX community is excited due to its community governance in driving adoption. Users term the token a 'weird' ERC20 token due to its different behaviors, as it can be upgraded, paused, and reverted. Therefore, users anticipate seeing the growth and performance of the token after being listed on a major exchange platform recently.
The token needs to increase community engagement to enhance its success. ECOx needs to be a currency that unites individuals to improve the performance of the ecosystem in the future. Its Twitter community needs to expand its reach to get more users and enhance its reputation, as it is still low, having less than 2500 followers and minimal engagement. An increase in engagement will actualize their proposal of real consumers using the token and its ecosystem and community-driven adoption and governance.
Where can one buy the token?
The token is currently available on several exchanges which you can find below.
Who are the trustees in the community?
These are the individuals that act as monetary policymakers and vote on monetary policy after every two weeks.
Who elects trustees?
The community elects these individuals based on their involvement in crypto governance.
Can the tokens be transferred?
If the tokens are staked, they cannot be transferred.
History of ECOx
November 2022 – The token is launched as part of the Eco Currency protocol.
7 November 2022 – ECOx gets listed on the KuCoin exchange.